MAS calls for transparency as providers look to roll out retirement-focused funds

The Money Advice Service (MAS) has urged providers to make funds more transparent as they prepare to roll out new retirement-focused products following pension reforms.

Speaking after the government published its Taxation of Pensions Bill, MAS pensions and retirement strategy manager Jackie Spencer (pictured) said it is “even more crucial” fund managers simplify products. While welcoming the potential for retirement-focused funds, Spencer warned any new products must be clearly labelled: “The danger is products will come out that have lots of niche features that people barely understand. But these features may be crucial ones with lots of tax implications. “Firms could provide a bit more education around asset classes as well, and what that actually ...